TailorMed Collaborates with AllianceRx Walgreens Prime to Reduce Patient Out-of-Pocket Costs
TailorMed’s Platform to Help Connect Patients Nationwide Needing Vital, High-Cost Specialty Medications with Financial Resources
TailorMed, a leading financial navigation technology company that helps healthcare organizations remove financial barriers to care, today announced they are collaborating with AllianceRx Walgreens Prime – one of the nation’s largest specialty and home delivery pharmacies. TailorMed’s platform will help the organization reduce the burden of specialty therapies for eligible patients[1] by streamlining the process of connecting them with financial resources.
A recent study by the Kaiser Family Foundation revealed that nearly one-third of patients didn’t take their medication as prescribed due to the cost. AllianceRx Walgreens Prime will leverage TailorMed’s platform to quickly identify financial assistance programs for patients at risk of not affording the specialty medications needed to treat their chronic condition or rare disease. The specialty pharmacy will have access to over 5,000 programs updated in real-time. These financial resources include co-pay assistance, manufacturer voucher and bridge programs, government subsidies, community and state resources, assistance from disease-specific foundations, and SDOH (social determinants of health) programs.
“We are excited to leverage TailorMed’s technology to help lower specialty prescription costs for our patients,” said Lisa Mymo, vice president, Pharma and Financial Services at AllianceRx Walgreens Prime. “By improving access to these vital, yet expensive therapies, our patients are more likely to adhere to treatment and better manage their rare disease or chronic conditions.”
Founded with a personal mission to help patients and the U.S. healthcare industry tackle the financial challenges of care delivery, TailorMed is focused on helping patients get the care they need. TailorMed’s platform automates the process of proactively identifying financially at-risk patients prior to treatment, then matching and enrolling them in financial resources. For patients, the platform can help reduce out-of-pocket responsibility, eliminate downstream financial hardships, and help reduce prescription abandonment. For healthcare organizations, TailorMed transforms patient financial assistance into a proactive approach of addressing financial needs at the point of care, helping improve financial performance.
“We are thrilled to be working with AllianceRx Walgreens Prime, a forward-thinking organization that puts its patients at the center of everything they do,” said Srulik Dvorsky, co-founder and CEO of TailorMed. “Our collaboration with AllianceRx Walgreens Prime is aligned with our commitment to removing financial barriers for patients across the continuum of care, from provider offices to pharmacies and more.”
“Rising out-of-pocket costs have created financial challenges for patients and pharmacies,” said Bryan Bloom, director of TailorMed. “The work between AllianceRx Walgreens Prime and TailorMed will address this at scale, helping make specialty prescriptions affordable for patients across the country.”
